Varonis Systems, Inc. (NASDAQ:VRNS) Given Average Rating of “Moderate Buy” by Brokerages

Varonis Systems, Inc. (NASDAQ:VRNS) has earned an average recommendation of “Moderate Buy” from the seventeen research firms that are presently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $59.38.

A number of equities research analysts have weighed in on the company. StockNews.com upgraded Varonis Systems from a “sell” rating to a “hold” rating in a research report on Saturday, March 8th. Jefferies Financial Group cut their target price on shares of Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a research note on Thursday, December 19th. Citigroup cut their target price on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. Cantor Fitzgerald started coverage on shares of Varonis Systems in a report on Thursday, January 9th. They issued an “overweight” rating and a $60.00 price objective for the company. Finally, Piper Sandler decreased their price objective on shares of Varonis Systems from $55.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, January 6th.

Institutional Trading of Varonis Systems

Several hedge funds have recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Varonis Systems during the fourth quarter worth approximately $6,848,000. Virtue Capital Management LLC increased its stake in Varonis Systems by 6.5% in the 4th quarter. Virtue Capital Management LLC now owns 17,320 shares of the technology company’s stock valued at $770,000 after buying an additional 1,056 shares during the last quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. increased its stake in Varonis Systems by 0.3% in the 4th quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 395,820 shares of the technology company’s stock valued at $17,586,000 after buying an additional 1,073 shares during the last quarter. Vident Advisory LLC increased its stake in Varonis Systems by 23.9% in the 4th quarter. Vident Advisory LLC now owns 85,870 shares of the technology company’s stock valued at $3,815,000 after buying an additional 16,539 shares during the last quarter. Finally, Squarepoint Ops LLC grew its position in shares of Varonis Systems by 45.0% in the 4th quarter. Squarepoint Ops LLC now owns 928,390 shares of the technology company’s stock valued at $41,248,000 after acquiring an additional 288,336 shares during the period. Institutional investors and hedge funds own 95.65% of the company’s stock.

Varonis Systems Stock Performance

Shares of VRNS stock opened at $40.01 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. The business has a 50 day moving average of $43.35 and a two-hundred day moving average of $49.16. Varonis Systems has a 52 week low of $39.11 and a 52 week high of $60.58. The company has a market cap of $4.50 billion, a P/E ratio of -46.52 and a beta of 0.85.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.24). Varonis Systems had a negative return on equity of 20.35% and a negative net margin of 17.38%. As a group, analysts anticipate that Varonis Systems will post -0.83 EPS for the current year.

Varonis Systems announced that its board has authorized a stock buyback program on Monday, February 10th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the technology company to reacquire up to 2.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Varonis Systems Company Profile

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, alert, and secure enterprise data in North America, Europe, the Middle East, Africa, and internationally. Its software enables enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential personal data belonging to customers, and patients and employees' data; financial records; source code, strategic and product plans; and other intellectual property.